CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Decreases Stock Holdings in Marathon Petroleum Co. (NYSE:MPC)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its holdings in shares of Marathon Petroleum Co. (NYSE:MPC - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,662 shares of the oil and gas company's stock after selling 22,999 shares during the period. Marathon Petroleum comprises 0.7% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 27th biggest position. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's holdings in Marathon Petroleum were worth $9,997,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MPC. Gladius Capital Management LP purchased a new stake in shares of Marathon Petroleum during the third quarter valued at $26,000. MeadowBrook Investment Advisors LLC boosted its position in Marathon Petroleum by 88.9% in the 3rd quarter. MeadowBrook Investment Advisors LLC now owns 170 shares of the oil and gas company's stock valued at $28,000 after buying an additional 80 shares during the period. True Wealth Design LLC grew its stake in Marathon Petroleum by 672.7% in the 3rd quarter. True Wealth Design LLC now owns 170 shares of the oil and gas company's stock worth $28,000 after acquiring an additional 148 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Marathon Petroleum during the third quarter worth approximately $30,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Marathon Petroleum during the third quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.77% of the company's stock.

Insider Transactions at Marathon Petroleum

In related news, Director Jeffrey C. Campbell purchased 6,000 shares of the firm's stock in a transaction on Wednesday, December 4th. The stock was bought at an average cost of $149.61 per share, with a total value of $897,660.00. Following the completion of the acquisition, the director now owns 6,090 shares of the company's stock, valued at $911,124.90. The trade was a 6,666.67 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Barclays dropped their price objective on Marathon Petroleum from $168.00 to $159.00 and set an "overweight" rating on the stock in a research note on Monday, November 11th. Mizuho cut their price target on Marathon Petroleum from $175.00 to $174.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. BMO Capital Markets lowered their price objective on shares of Marathon Petroleum from $200.00 to $190.00 and set an "outperform" rating for the company in a research note on Friday, October 4th. TD Cowen restated a "buy" rating and issued a $170.00 price target on shares of Marathon Petroleum in a report on Tuesday, December 10th. Finally, Scotiabank dropped their price objective on shares of Marathon Petroleum from $191.00 to $170.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Marathon Petroleum has an average rating of "Moderate Buy" and an average target price of $181.20.

Marathon Petroleum Stock Performance

Shares of NYSE MPC traded down $2.88 during mid-day trading on Friday, hitting $151.43. The stock had a trading volume of 4,318,848 shares, compared to its average volume of 2,236,087. The company has a 50 day moving average of $147.18 and a two-hundred day moving average of $158.58. Marathon Petroleum Co. has a twelve month low of $130.54 and a twelve month high of $221.11. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.76 and a current ratio of 1.23. The firm has a market cap of $48.67 billion, a PE ratio of 12.00, a PEG ratio of 2.88 and a beta of 1.42.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The oil and gas company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.90. The firm had revenue of $35.37 billion during the quarter, compared to analysts' expectations of $34.34 billion. Marathon Petroleum had a return on equity of 16.19% and a net margin of 3.15%. The company's revenue for the quarter was down 14.9% compared to the same quarter last year. During the same period last year, the business posted $8.14 earnings per share. Research analysts predict that Marathon Petroleum Co. will post 8.88 EPS for the current fiscal year.

Marathon Petroleum declared that its board has initiated a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the oil and gas company to repurchase up to 10% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Marathon Petroleum Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th were issued a $0.91 dividend. This is an increase from Marathon Petroleum's previous quarterly dividend of $0.83. This represents a $3.64 annualized dividend and a dividend yield of 2.40%. The ex-dividend date of this dividend was Wednesday, November 20th. Marathon Petroleum's dividend payout ratio is 28.84%.

Marathon Petroleum Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.